Norway's contribution of USD 127 million towards the purchase of a Patriot system for Romania demonstrates "not only its firm support for Romania, but also its commitment to allied security," Romania's Defence Minister Angel Tilvar said on Tuesday.The Norwegian government's decision to contribute significantly toward this acquisition was announced at the Meeting of the Council of Nordic States in Reykjavik, which takes place until Thursday, according to Romania's Ministry of National Defence (MApN)."We continue to stand together with Ukraine in these critical moments," Tilvar is quoted as saying.This financial contribution is part of the Immediate Action on Air Defence Initiative coordinated by Germany and will allow Romania to strengthen the security and defence of the Euro-Atlantic space by renewing and expanding its air defence capabilities.MApN says that this close cooperation between Romania and Norway reflects the common and unwavering commitment of both nations in the face of current security challenges, as well as their continued support of Ukraine against the Russian Federation's unjustified aggression.Romania recently donated a Patriot system to Ukraine.
Romania's interior minister, Cătălin Predoiu, expressed cautious optimism about the country's prospects for full Schengen accession following a meeting scheduled for November 22 with Austrian interior minister Gerhard Karner. Speaking on local news channel Antena 3, Predoiu stated that "the pieces are quite well placed" for progress on accession with land borders,
Romgaz (BVB: SNG), the largest producer and main supplier of natural gas in Romania, will list its first bond issue, worth EUR 500 million and aimed to finance the Neptun Deep offshore gas project, on the Bucharest Stock Exchange on November 19. In October, Romgaz issued the first EUR 500 million tranche of a EUR […]
Left without heating after a coal-fired unit at Electrocentrale Craiova broke down, Ford Otosan’s automobile plant in southern Romania ceased operations on November 13, Profit.ro reported. The losses at the factory that is producing some 1,000 automobiles and 1,700 EcoBoost...
Bucharest Exchange-listed Premier Energy Group, active in the renewable electricity generation and energy supply activities in Romania and Moldova, announced its revenues rose by 25% y/y to EUR 816 million in January-September and by 61% y/y to EUR 303 million in Q3 alone, driven by both organic performance and strategic acquisitions. The net profit, however, shrunk […]
Romania's leading energy producer, Hidroelectrica (BVB: H2O), announced its output decreased by 22% y/y to 11.35TWh in January-September, citing both market conditions (a change in the regulations that resulted in volatile prices and volumes traded) and adverse hydrological conditions. The revenues contracted by 25% y/y to RON 7.2 billion (EUR 1.44 billion), roughly in line […]
Lower electricity production amid slightly higher domestic demand and the reliance on intermittent renewable resources led to increasingly more situations when Romania imports electricity at the maximum capacity of its interconnectors, although the net electricity deficit is in the range of only some 3% of total consumption. The power storage capacities can smooth supply and […]
